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November 2024

Cortical.io Positioned as a Strong Contender in the 2024 SPARK Matrix for Intelligent Document Processing

November 5, 2024 – QKS Group has named Cortical.io a strong contender in their 2024 SPARK Matrix™ analysis of market. The QKS Group SPARK Matrix™ evaluates vendors based on technology excellence and customer impact. It offers an in-depth analysis of global market dynamics, major trends, vendor landscapes, and competitive positioning. By providing a competitive analysis […]
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October 2024

Cortical.io Ranked Among Leading Innovators Transforming the Insurance Industry

October 9, 2024 –Cortical.io today announced its recognition in the 2024 InsurTech100 List by FinTech Global. This seventh edition celebrates the leading innovators who are developing solutions to address the critical challenges facing the insurance industry in the years ahead. Despite challenging macroeconomic and funding environment recently, the InsurTech industry continues to show resilience, recording […]
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October 2024

Cortical.io zählt zu den Top-Innovatoren, die die Versicherungsbranche transformieren

9. Oktober, 2024 – Cortical.io gab heute ihre Aufnahme in die InsurTech100-Liste 2024 von FinTech Global bekannt. Diese siebte Ausgabe feiert die führenden Innovatoren, die Lösungen entwickeln, um die kritischen Herausforderungen der Versicherungsbranche in den kommenden Jahren anzugehen. Trotz des schwierigen makroökonomischen und finanziellen Umfelds der letzten Zeit zeigt sich die InsurTech-Branche weiterhin widerstandsfähig und verzeichnet […]
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June 2024

GPT or not GPT, das ist die Frage: Das KI-Dilemma im Versicherungswesen

Auch Versicherungen bleiben vom Hype rund um generative KI nicht verschont. Laut einer Umfrage von Gartner geben 70 Prozent der Versicherer an, innerhalb der nächsten drei Jahre GenAI-Projekte implementieren zu wollen. Zahlreiche Projekte mit Large Language Models (LLMs) werden gestartet – allerdings oft mit unsicherer Erfolgsprognose. Dieser Artikel erklärt, wie Versicherungen den konkreten Nutzen aus […]
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May 2024

KI-Pionier Cortical.io geht Partnerschaft mit Swiss Re ein, um die digitale Transformation im Versicherungswesen voranzutreiben

15. Mai 2024 – Cortical.io gab heute eine strategische Allianz mit Swiss Re, einem weltweit führenden Rückversicherungsunternehmen, bekannt. Ziel der Zusammenarbeit ist es, die Einführung von intelligenter Dokumentenverarbeitung (IDP) bei Versicherungen zu erleichtern. Das 2011 in Österreich gegründete Unternehmen Cortical.io ist ein Pionier für effiziente Lösungen mit künstlicher Intelligenz (KI), die arbeitsintensive Versicherungsprozesse wie die […]
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May 2024

AI-Pioneer Cortical.io to Partner with Swiss Re to Boost Digital Transformation in Group Insurance

May 15, 2024 – Cortical.io today announced a strategic alliance with Swiss Re, a global leader in reinsurance. The collaboration aims to facilitate the adoption of intelligent document processing (IDP) among group insurance carriers. Founded in 2011 in Austria, Cortical.io is a pioneer for efficient artificial intelligence (AI) solutions that automate labor-intensive insurance processes like […]
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November 2023

Wie digital ausgereift sind Versicherer im Jahr 2023?

Die Versicherungsbranche, die traditionell für ihren eher vorsichtigen, konservativen Ansatz bekannt ist, hat in den letzten Jahren bedeutende Veränderungen erlebt und neue digitale Technologien als Reaktion auf die Anforderungen der Verbraucher und die Dynamik des Marktes eingeführt. Doch wie weit sind die Versicherer im digitalen Bereich fortgeschritten? Und wie gut sind sie darauf vorbereitet, die […]
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September 2023

Cortical.io wird von FinTech Global zu einem der innovativsten Insurtech-Unternehmen ernannt

21. September 2023 – Cortical.io gab heute bekannt, dass das Unternehmen in die sechste Ausgabe der renommierten InsurTech100-Liste von FinTech Global für 2023 aufgenommen wurde. Das Ranking würdigt die bahnbrechenden Technologieunternehmen, die Lösungen für die größten Herausforderungen der Versicherungsbranche entwickeln. In den letzten Jahren hatten die Versicherungsunternehmen einen harten Kampf zu bewältigen, als es darum […]
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September 2023

Cortical.io Named Among Most Innovative Insurtech Companies by FinTech Global

September 21, 2023 – Cortical.io today announced that they have been named to FinTech Global’s Sixth Edition of its prestigious InsurTech100 list for 2023. The ranking celebrates the groundbreaking tech companies that are developing solutions to the insurance industry’s most daunting challenges. Over the last couple of years, insurance firms have faced an uphill battle […]
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August 2023

Cortical.io rüstet sich für die wachsende Nachfrage nach KI-Lösungen auf dem deutschsprachigen Markt

8. August 2023 – Um dem steigenden Interesse für Künstliche Intelligenz und semantische Lösungen gerecht zu werden baut Cortical.io sein Sales Team in Österreich aus. Seit 3.Juli 2023 zeichnet Vertriebsexperte Thomas Eichinger als Head of Growth verantwortlich für das Wachstum des KI-Pioniers. Unterstützt wird er dabei von Tim Juchert, der nun als Senior Sales Manager […]
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July 2023

Kann Automatisierung den Fachkräftemangel im Versicherungswesen ausgleichen?

Auf dem heutigen hart umkämpften Arbeitsmarkt wird es für die Versicherer immer schwieriger, qualifizierte Mitarbeiter zu gewinnen und zu halten. Die kombinierten Kräfte der „großen Resignation“, bei der Arbeitnehmer ihre Prioritäten neu bewerten, und der „großen Pensionierung“, bei der qualifizierte ältere Arbeitnehmer aus dem Berufsleben ausscheiden, haben zu einem historischen Arbeitskräftemangel geführt. Als wissensintensiver Bereich, […]
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May 2023

Cortical.io integriert seine NLP-Technologie in die Produktreihe der Stagwell Marketing Cloud

16. Mai 2023 – Cortical.io gab heute bekannt, dass es von The Stagwell Marketing Cloud (SMC) als Anbieter ausgewählt wurde. Die Natural Language Processing (NLP)-Funktionalitäten von Cortical.io werden in die marktführenden Kommunikationstechnik-Plattformen von SMC integriert. SMC bietet eine Suite von SaaS-Lösungen, die Mitarbeiter von Marketing-Abteilungen hinsichtlich Recherche, Kommunikation und Herstellung von Medienkontakten unterstützen. Nachdem SMC mehrere […]
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May 2023

Cortical.io Integrates its NLP Technology Into Stagwell Marketing Cloud’s Suite of Products

May 16, 2023 – Cortical.io today announced that it has been selected as a vendor by The Stagwell Marketing Cloud (SMC), a suite of SaaS solutions that powers research, communications, and media activation for in-house marketers. Cortical.io’s technology will be deployed inside SMC’s Comms Tech Unit, integrating Cortical.io’s Natural Language Processing (NLP) functionalities into its […]
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April 2023

Cortical.io Recognized as Data Solution of the Year for Insurance in 2023 Data Breakthrough Awards Program

April 13, 2023 – Cortical.io announced today that its SemanticPro solution for Intelligent Document Processing (IDP) has been selected as winner of the “Data Solution of the Year for Insurance” in the 4th annual Data Breakthrough Awards program conducted by Data Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products […]
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February 2023

Fresh Energy on the Board of the Viennese Start-Up Cortical.io

February 15, 2023 – As of January 2, 2023, Dr. Rainer Kegel has taken over the position of CEO at Cortical.io, a Vienna-based artificial intelligence pioneer. After interim positions in the IT department of Wienstrom and as IT manager at Wien Energie, Kegel was Chief Information Officer at Wiener Stadtwerke for a long time, where […]
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February 2023

Frische Energie im Vorstand des Wiener Start-Ups Cortical.io

15. Februar 2023 – Mit 2. Jänner 2023 hat Dr. Rainer Kegel den Posten des Vorstandsvorsitzenden bei Cortical.io, ein Pionier für Künstliche Intelligenz aus Wien, übernommen. Nach Zwischenstationen in der IT-Abteilung von Wienstrom und als IT-Leiter bei Wien Energie war Kegel lange Zeit Chief Information Officer der Wiener Stadtwerke, wo er die IoT und Data […]
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November 2022

Semantic Folding: Wo Sprachverarbeitung dem Menschen überlegen ist – und was es für Banken bedeutet

Kaum eine Zukunftstechnologie ist so vielversprechend wie die der Künstlichen Intelligenz (KI). Der Grund dafür liegt auf der Hand, denn sie bietet nicht nur für Branchen wie die Medizin herausragende Potenziale – auch der Finanzsektor kann maßgeblich profitieren, beispielsweise indem Betrugsversuche verhindert oder Kreditanfragen vollautomatisch bewertet und abgewickelt werden.
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November 2022

Hier spricht die KI

Künstliche Intelligenz ist eine der wichtigsten Zukunftstechnologien, die zahlreiche Chancen bietet – da ist sich laut einer aktuellen Bitkom-Umfrage die große Mehrheit deutscher Unternehmen einig. Gleichzeitig legen die Ergebnisse allerdings auch offen, dass aktuell nur neun Prozent der Befragten KI selbst bereits nutzen. Vor allem im Bereich des Natural Language Processing ist noch viel Luft […]
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October 2022

InsurTech100 2022 list reveals the sector’s must know companies

With the InsurTech industry pioneering change in the insurance industry, FinTech Global has revealed the 100 leading companies in its fifth annual InsurTech100 List. The InsurTech100 2022 is a ranking that recognises the innovators that are providing solutions to address the most pressing challenges faced by the insurance and InsurTech industry today.
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October 2022

Cortical.io Listed Among Most Innovative Companies in InsurTech100

October, 2022 – Cortical.io today announced that they have been named to FinTech Global’s Fifth Edition of its prestigious InsurTech100 list for 2022. The ranking recognises the innovators and pioneers providing solutions to address the most pressing challenges faced by the insurance industry. A panel of analysts and industry experts voted from an extensive list […]
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September 2022

Warum Europa auf nachhaltige KI setzen muss

Der American Way in Bezug auf KI ist nicht alternativlos, schreibt Francisco Webber, CEO des österreichischen KI-Pioniers Cortical.io. Es gibt bereits Ansätze, die einen eigenen, europäischen Weg vorzeichnen. Dabei soll ein Augenmerk auf die Datenmengen und Rechenressourcen gelegt werden.
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September 2022

Top 7 Best AI Platforms For Automation According To Experts

Automation is the process of using technology to complete a task or series of tasks with little or no human intervention. AI can help improve automation by providing the ability to learn and improve over time through data and feedback. Additionally, AI can help automate decision-making and actions, which can further improve efficiency and productivity. […]
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September 2022

Weniger Arbeitsaufwand, bessere Ergebnisse

Digitalisierung, KI und Automatisierung finden sich seit einigen Jahren in allerlei Absichtserklärungen. Im Unternehmensalltag klingt das oft so: Wir wollen digitaler werden! Schön, sagen viele, aber wie lässt sich das von der Theorie in die Praxis umsetzen? Und wie können diese Buzzwords echten Mehrwert stiften? Das Beispiel eines Fortune 500 Versicherungsunternehmens demonstriert genau das: Es […]
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July 2022

Cortical.io Semantic Folding Approach demonstrates a 2,800x acceleration and 4,300x increase in energy efficiency over BERT

July 12, 2022 – Cortical.io today announced its breakthrough prototype for classifying high volumes of unstructured text. Classifying documents or messages constitutes one of the most fundamental Natural Language Understanding (NLU) functions for business artificial intelligence (AI). The benchmark was carried out on two similar system setups using the same, off-the-shelf, dual AMD-Epyc server hardware. […]
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June 2022

What is High Efficiency AI?

Despite their popularity, steam-powered cars had a very short life. Why? Because they needed up to 30 minutes to start. They were rapidly replaced by automobiles with internal combustion engines and electric starters. Automobilists abandoned their beloved steam cars because they wanted efficiency. The shift toward electric cars we are experiencing in the first decades […]
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May 2022

Cortical.io positioned as the Leader in the 2022 SPARK Matrix for Text Analytics Platforms by Quadrant Knowledge Solutions

May 2, 2022 – Quadrant Knowledge Solutions announced today that it has named Cortical.io as a 2022 technology leader in the SPARK Matrix analysis of the global Text Analytics Platforms market. The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides […]
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April 2022

Text AI pioneer Cortical.io launches comprehensive Enterprise Solution for Intelligent Document Processing

April 28, 2022 – Cortical.io, an AI pioneer headquartered in Vienna, is launching SemanticPro, an Intelligent Document Processing (IDP) solution optimized for organizations that need to accurately extract, classify, analyze, and route large volumes of information spread across a myriad of text documents. Due to its unique and patented neuroscience-based approach, SemanticPro is able to […]
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April 2022

Solving the problem of complex document processing for insurance companies

Insurers handle, on average, more than 100,000 documents every year, which take a huge amount of time and effort to process manually, and are open to human error. Most of them contain unstructured data (which accounts for 80 per cent of data produced globally), meaning the documents don’t follow a predefined or known structure: for […]
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March 2022

Cortical.io Recognized in 2022 Gartner® Market Guide for Intelligent Document Processing

March 1, 2022 – Cortical.io today announced that Gartner, has included the company as a Representative Vendor in 2022 Gartner® Market Guide for Intelligent Document Processing (IDP)*. As noted in the report, “Vendors were selected based on the following: Those whose core product met the definition of “IDP”; Those most mentioned in client interactions; Broad awareness […]
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February 2022

Cortical.io adds contract intelligence to document processing

Businesses have countless documents to keep track of. And organizing, maintaining and updating them can be a challenge, both from a volume and a manpower standpoint. Intelligent document processing (IDP) tools are increasingly applied to process and analyze structured and semi-structured documents such as forms and invoices. This technology leverages such tools as computer vision, machine […]
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February 2022

The Impact of NLP and Deep Learning Capabilities to the Future of Martech Platforms

Artificial Intelligence (AI) adoption in marketing so far has been mainly driven by predictive analytics based on behavioral and historical data, content personalization of web pages and conversational AI. But there is another domain that remains largely untapped: the analysis of unstructured text data to generate marketing insights and increase revenues. Unstructured data like emails, […]
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February 2022

New Cortical.io Releases Address the Challenge of Intelligent Document Processing

February 8, 2022 – Cortical.io today announced new releases of solutions that improve document processing speed, accuracy and usability for the most challenging business documents, messages, and attachments. Contract Intelligence 4.6 Contract Intelligence 4.6 automatically and accurately searches, extracts, classifies and compares key information from agreements, contracts, and other business documents like insurance policies and financial […]
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January 2022

Cortical.io joins Swiss InsurTech Hub

January 11, 2022 – Cortical.io has recently joined the Swiss InsurTech Hub, a non-profit organization that promotes the digitalization and innovation of the insurance sector in Switzerland, supports the exchange of knowledge, skills and experiences developed by Insurtech companies, and develops an open collaboration framework for various stakeholders (e.g. universities, public institutions, etc.). “We are […]
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November 2021

Francisco Webber on The Three Things You Need to Shake Up Your Industry

The fundamental difference of our approach is that we focus on the data representation, not on the algorithm like the mainstream machine learning approaches do. Our Semantic Folding theory describes a new data representation called Semantic Fingerprint. It corresponds to the biological way to represent language information in the human brain: a sparse, distributed vector […]
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October 2021

Cortical.io 2022 Predictions: AI-Based Contract Intelligence will become an integral part of Contract Lifecycle Management

The value of Contract Lifecycle Management (CLM) systems is shifting from creating, storing and monitoring legal agreements to providing deeper insights into risks and opportunities. Just surfacing basic information like name of parties involved or termination date, or locating Force Majeure clauses, is not enough anymore. CLM systems must be able to deliver advanced analytics […]
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September 2021

Product Walk Through: Cortical.io – Semantic Folding Doc Analysis

In this AL TV Product Walk Through, CMO Steve Levine, takes us through some of its capabilities, especially the way that it takes a semantic approach to contract analysis and extraction. For example, it can extract a date from a lease and assign it to the right legal term even if the clause where the […]
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September 2021

Green Software – A New Trend for a Better Planet

Green Tech has been around for the past twenty years but has only gained traction recently due to the rising concerns about global warming. The green tech and sustainability market was valued at $11.2 billion in 2020, and it is expected to reach $36.6 billion by 2025. That’s a compound annual growth rate of 26.6%.  
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September 2021

Cortical Bags $6m As Contract NLP Segment Keeps Growing

You may have assumed that the market for contract-focused NLP analysis is pretty much saturated. But, money keeps flowing into companies that are not household names – yet. Take Cortical, which has just bagged $6m in Series A funding from Ezpada, a global commodity trading house, and earlier this year saw the European Investment Bank […]
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September 2021

Cortical.io Secures Another $6 Million Series A Investment

September 14, 2021 — Cortical.io today announced a $6 million series A investment into the company. Cortical.io delivers business solutions that accurately classify, extract and search information within unstructured documents based on a natural language understanding (NLU) innovation inspired by neuroscience. The investment was provided by Ezpada, a global commodity trading house. Intelligent processing of […]
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September 2021

Cortical.io Wins coveted Innovation Index Award from Deep Analysis

September 9, 2021 – Cortical.io today announced that they have won the prestigious Innovation Index Award from technology analyst firm Deep Analysis. Deep Analysis noted that, “Cortical.io has developed an innovative AI technology based on a natural language understanding (NLU) approach to interpret and process human language text. In recent years deep learning has been […]
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August 2021

3 ways to streamline your document processing with AI

While Artificial Intelligence (AI) has gained traction with enterprises in other industries, insurance providers have been slower to adopt. In 2016, research by Deloitte noted that less than 2 percent of insurance companies were currently investing in artificial intelligence technologies.  
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August 2021

Cortical.io announces availability of Contract Intelligence 4.5

August 10, 2021 — Cortical.io today announced the release of Contract Intelligence 4.5, an artificial intelligence software that automatically and accurately searches, extracts, classifies and compares key information from agreements, contracts, and other unstructured documents like policies and financial reports. Contract Intelligence uses Natural Language Understanding (NLU) to analyze relevant information from large quantities of […]
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June 2021

Cortical.io wins Ideaward2021

June 21, 2021 – On June 16, the first Confare Convention of the year took place at the Meliá Hotel Vienna, under the motto “Innovative-Digital-Experience”. Digital transformation is at the top of the agenda for companies in 2021. Technology is changing all areas of life and the way businesses function. We communicate with chatbots, artificial intelligence […]
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April 2021

Cortical.io Message Intelligence Solution Improves Accuracy of Processing Unstructured Documents

April 7, 2021 – Cortical.io today announced Message intelligence 2.1, an intelligent document processing solution (IDP) that provides high accuracy in filtering, classification, and extraction of emails, attachments, and other types of unstructured documents. Leveraging Cortical.io’s patented method for natural language understanding (NLU), Message Intelligence 2.1 enables higher productivity, fewer false positives, less manual intervention […]
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March 2021

Deep Analysis – Analyst Opinion on Cortical.io

March 22, 2021 – Deep Analysis, an advisory firm that helps organizations understand and address the challenges of innovative and disruptive technologies in the enterprise software marketplace, has just released a brief about Cortical.io. In summary, Deep Analysis assesses Cortical.io as an innovative company with equally interesting and novel technology. “In truth, what most interested […]
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March 2021

EIB provides $9.1 million to Artificial Intelligence Software Innovator Cortical.io

March 3, 2021 – The European Investment Bank (EIB) is providing $9.1 million to Cortical.io AG, an Austrian software company developing innovative artificial intelligence technology based on a Natural Language Understanding (NLU) approach that can interpret and process human language text. The software is capable of performing search and analysis based on meanings of words […]
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March 2021

COVID-19 will Accelerate High-Efficiency AI in 2021

The impact of COVID-19 on our business is two-fold. In the first step, the COVID crisis has frozen the decision-making structures in large organizations, delaying purchase decisions, especially towards small vendors like us. After waking up from this state of chock, enterprises now realize they have a high need for technologies like the one we […]
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February 2021

Francisco Webber, Co-Founder & CEO of Cortical.io – Interview Series

Francisco Webber is co-founder and CEO of Cortical.io and inventor of the company’s proprietary Retina technology. This technology applies the principles of cerebral processing to machine learning and natural language understanding (NLU) to solve real-world use cases related to big text data. Cortical.io solutions are based on the actual meaning of text, rather than on statistical occurrences.
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January 2021

Cortical.io’s AI makes bulk contract analysis faster and more accurate

In the past, reviewing large stacks of documents was a mind-numbing chore for junior attorneys — a process that could literally consume months of multiple employees’ lives. But innovations in artificial intelligence have enabled Cortical.io to automate the document review process with software, and the company today announced a new version of Contract Intelligence with accuracy and speed improvements […]
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January 2021

Intelligent Document Processing Solution Improves Contract Review Efficiency and Reduces Extraction Time By up to 80%

January 25, 2021 – Cortical.io today announced a new release of its Cortical.io Contract Intelligence software. Utilizing a patented natural language understanding (NLU) approach based on semantic folding theory, the software analyzes the content of large quantities of documents with a degree of accuracy that is difficult to achieve with manual labor or other automation tools. It […]
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November 2020

Cortical.io Wins 2020 LegalTech Breakthrough Award for "Overall Contract Automation Solution of the Year"

November 18, 2020 – Cortical.io today announced its artificial intelligence-based Contract Intelligence solution has been awarded ‘Overall Contract Automation Solution of the Year’ by LegalTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout technology companies, products, and services supporting legal professionals around the globe. Cortical.io Contract Intelligence is an AI-based solution for enterprises […]
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October 2020

Cortical.io Enhances Contract Intelligence Solution with Semantic Compare

October 5, 2020 – Cortical.io today announced a new release of Cortical.io Contract Intelligence, an AI-based solution for enterprises that need to review and analyze contracts and other documents. Cortical.io Contract Intelligence utilizes its patented natural language understanding approach to extract, classify, search and compare relevant information in documents with a degree of accuracy that […]
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September 2020

Cortical.io Recognized in the 2020 Gartner Market Guide for Text Analytics

September 28, 2020 – Cortical.io, a leading provider of AI-based business solutions, today announced that it has been identified as a Representative Vendor in the Gartner Market Guide for Text Analytics1, published on August 31, 2020. According to the report, “Respondents to the 2019 Gartner Data and Analytics Adoption Trends Survey listed text analytics as […]
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July 2020

Introducing Contract Intelligence Solution with Semantic Search

Insurance Industry Leader Unum Selects Cortical.io Contract Intelligence After Pilot Demonstrated Improved Workflow Results 14 July 2020 – Cortical.io today announced a new release of Cortical.io Contract Intelligence, an AI-based solution for enterprises that need to review and manage a large corpus of contracts and other legal documents. Cortical.io Contract Intelligence utilizes its patented natural […]
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April 2020

Cortical.io Launches “Message Intelligence” to Tackle Formidable Enterprise Communications Challenges

April 28, 2020 – Cortical.io today announced a real-time, natural language understanding solution to rescue corporate productivity from the deluge of enterprise email: Cortical.io Message Intelligence. It’s no secret the flood of digital communications from email, messaging and Twitter and other sources exasperates our daily lives. Enterprises, in particular, are overwhelmed with communications from inside […]
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October 2019

Contract Intelligence 3.1.0 Released

The newest version of our contract review software comes with significant improvements for detecting and converting source data, in particular for the conversion of table data.
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January 2017

Cortical.io featured in The Economist

In its latest technology report, The Economist delivers great insights about progresses made in the field of Natural Language Understanding and presents Cortical.io’s Semantic Fingerprinting approach.
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June 2016

Semantic Folding – From Natural Language Processing to Language Intelligence

Francisco De Sousa Webber, co-founder of Cortical.io, has developed the theory of Semantic Folding, which is presented in a recently published white paper. It builds on the Hierarchical Temporal Memory (HTM) theory by Jeff Hawkins and describes the encoding mechanism that converts semantic input data into a valid Sparse Distributed Representation (SDR) format.
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